Mitchell Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Mitchell averaged 6.64% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

The average rate for the prior week (2025-03-27) was 6.35% and one month ago for the week of 2025-02-27, the average rate was 6.66%.

Mitchell's average rate one year ago was 6.49%.

For refis of the same type during the week of 2025-04-03, the average rate was 7.24%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-04-03 6.64%
Mitchell 30 Year Fixed Rate 2025-04-03 6.64%
Mitchell 30 Year Fixed Rate Refi 2025-04-03 7.24%
Mitchell 15 Year Fixed Rate 2025-04-03 5.82%
Mitchell 15 Year Fixed Rate Refi 2025-04-03 6.12%
Mitchell 30 Year FHA 2025-04-03 6.06%
Mitchell 30 Year FHA Refi 2025-04-03 6.06%
Mitchell 30 Year USDA 2025-04-03 6.12%
Mitchell 30 Year USDA Refi 2025-04-03 6.32%
Mitchell 30 Year VA 2025-04-03 6.16%
Mitchell 30 Year VA Refi 2025-04-03 5.96%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Mitchell, SD.

Mitchell Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Mitchell, SD market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Plains Commerce Bank 46 6.23% $4,845
CORTRUST MORTGAGE, INC. 32 6.39% $4,895
First Dakota National Bank 20 6.67% $2,623
BANKWEST, INC. 9 6.64% $5,335
UNITED WHOLESALE MORTGAGE, LLC 5 7.39% $4,810
First International Bank & Trust 5 6.95% $3,331
U.S. Bank 4 6.59% $4,262
First PREMIER Bank 4 6.56% $3,732
Wells Fargo Bank 3 7.04% $3,051
First National Bank of Omaha 3 6.58% $3,830
LOANDEPOT.COM, LLC 2 6.81% $5,320
QUICKEN LOANS, LLC 2 6.50% $8,184
Reliabank Dakota 2 6.63% $5,923
Discover Bank 2 7.07% $0
Farm Credit Mid-America, ACA 2 7.31% $5,745
American Bank & Trust 2 6.56% $3,639
First Interstate Bank 1 8.00% $4,171
AmeriHome Mortgage Company, LLC 1 6.38% $4,402
Barrington Bank & Trust Company, N.A. 1 6.63% $5,168
CU MORTGAGE DIRECT, LLC 1 6.63% $4,770
21ST MORTGAGE CORPORATION 1 8.07% $5,928
IOWA BANKERS MORTGAGE CORPORATION 1 7.00% $5,153
SIOUX FALLS 1 7.00% $5,928

Mitchell Average Closing Costs & Other Stats

Mitchell, SD's 23 lenders originated 403 loans during 2024. The total origination value was $90,425,000, with an average loan value of $224,380.

Mitchell's average closing costs are $4,368.

The top Mitchell lender as defined by loan originations is Plains Commerce Bank, with 46 loans originated. Their average total fees are $4,845, which is $50 lower than the next largest lender, CORTRUST MORTGAGE, INC..

The lowest fee Mitchell lenders (with over 10 loans originated) are First Dakota National Bank ($2,623), Plains Commerce Bank ($4,845), CORTRUST MORTGAGE, INC. ($4,895), .

The lowest rate Mitchell lenders (with over 10 loans originated) are Plains Commerce Bank (6.23%), CORTRUST MORTGAGE, INC. (6.39%), First Dakota National Bank (6.67%), .

Mitchell, SD Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
Plains Commerce Bank $17,320,000 $21,965,000 26.8% 24.3%
First Dakota National Bank $6,830,000 $16,280,000 138.4% 18.0%
CORTRUST MORTGAGE, INC. $9,310,000 $11,010,000 18.3% 12.2%
BANKWEST, INC. $4,940,000 $8,120,000 64.4% 9.0%
Cornerstone Bank $3,710,000 n/a 4.1%
CorTrust Bank $2,765,000 $2,580,000 -6.7% 2.9%
First PREMIER Bank $1,140,000 $2,555,000 124.1% 2.8%
QUICKEN LOANS, LLC $1,420,000 $2,400,000 69.0% 2.7%
First National Bank of Omaha $1,535,000 $2,095,000 36.5% 2.3%
U.S. Bank $1,600,000 $2,035,000 27.2% 2.3%
Security National Bank of South Dakota $1,200,000 n/a 1.3%
UNITED WHOLESALE MORTGAGE, LLC $1,175,000 n/a 1.3%
Farm Credit Mid-America, ACA $1,105,000 n/a 1.2%
Wells Fargo Bank $275,000 $1,095,000 298.2% 1.2%
CARDINAL FINANCIAL $870,000 n/a 1.0%
First International Bank & Trust $1,065,000 $815,000 -23.5% 0.9%
First Interstate Bank $450,000 $725,000 61.1% 0.8%
Reliabank Dakota $350,000 $700,000 100.0% 0.8%
Rivers Edge Bank $160,000 $695,000 334.4% 0.8%
CANOPY MORTGAGE, LLC $645,000 n/a 0.7%
Mortgage Research Center, LLC $445,000 $570,000 28.1% 0.6%
SIOUX FALLS $305,000 $560,000 83.6% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $135,000 $515,000 281.5% 0.6%
First Bank & Trust $280,000 $495,000 76.8% 0.5%
LOANDEPOT.COM, LLC $175,000 $490,000 180.0% 0.5%
First National Bank $465,000 $470,000 1.1% 0.5%
American Bank & Trust $390,000 $435,000 11.5% 0.5%
CMG MORTGAGE, INC. $365,000 n/a 0.4%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $355,000 n/a 0.4%
USAA Federal Savings Bank $520,000 $345,000 -33.7% 0.4%
PENNYMAC LOAN SERVICES, LLC $205,000 $305,000 48.8% 0.3%
Discover Bank $545,000 $290,000 -46.8% 0.3%
FREEDOM MORTGAGE CORPORATION $290,000 n/a 0.3%
Granite Community Bank $285,000 n/a 0.3%
IOWA BANKERS MORTGAGE CORPORATION $265,000 n/a 0.3%
RAILWAY CREDIT UNION $265,000 n/a 0.3%
Alliance Bank $255,000 n/a 0.3%
Barrington Bank & Trust Company, N.A. $125,000 $235,000 88.0% 0.3%
CROSSCOUNTRY MORTGAGE, LLC $235,000 n/a 0.3%
21ST MORTGAGE CORPORATION $225,000 n/a 0.2%
BROKER SOLUTIONS, INC. $225,000 $225,000 0.0% 0.2%
NEW DAY FINANCIAL, LLC $225,000 n/a 0.2%
Carrington Mortgage Services, LLC $155,000 $185,000 19.4% 0.2%
CU MORTGAGE DIRECT, LLC $200,000 $185,000 -7.5% 0.2%
Minnwest Bank $365,000 $155,000 -57.5% 0.2%
RESIDENTIAL BANCORP $120,000 n/a 0.1%
AMERISAVE MORTGAGE CORPORATION $100,000 n/a 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $85,000 n/a 0.1%
AmeriHome Mortgage Company, LLC $300,000 $75,000 -75.0% 0.1%
The First National Bank in Sioux Falls $15,000 $45,000 200.0% 0.0%

Mitchell's top lender by overall market share is Plains Commerce Bank, with 24.3% market share. In second place, with 18.0%, is First Dakota National Bank, having originated $16,280,000 in loans. In third place, with 12.2%, is CORTRUST MORTGAGE, INC., having originated $11,010,000 in loans. In fourth place, with 9.0%, is BANKWEST, INC., having originated $8,120,000 in loans. In fifth place, with 4.1%, is Cornerstone Bank, having originated $3,710,000 in loans.


Mitchell Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Mitchell (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $157,350 (-2.8%) $265,278 (31.8%) 0.00 61
2018-02-01 $173,250 (11.1%) $284,990 (48.7%) 0.00 60
2018-03-01 $179,950 (15.4%) $290,792 (58.5%) 0.00 51
2018-04-01 $187,000 (20.8%) $286,085 (52.1%) 0.00 58
2018-05-01 $188,550 (14.5%) $272,187 (33.1%) 0.00 59
2018-06-01 $189,900 (16.0%) $283,609 (38.4%) 0.00 58
2018-07-01 $172,500 (6.2%) $257,974 (29.0%) 0.00 62
2018-08-01 $164,025 (2.2%) $241,126 (15.8%) 0.00 72
2018-09-01 $154,825 (1.0%) $237,602 (12.2%) 0.00 64
2018-10-01 $155,725 (-0.5%) $216,512 (-12.9%) 0.00 63
2018-11-01 $159,000 (2.1%) $211,855 (-16.5%) 0.00 65
2018-12-01 $159,000 (2.7%) $210,066 (-17.5%) 0.00 63
2019-01-01 $175,125 (11.3%) $232,271 (-12.4%) 0.00 47
2019-02-01 $173,900 (0.4%) $192,018 (-32.6%) 0.00 42
2019-03-01 $180,757 (0.5%) $201,643 (-30.7%) 0.00 43
2019-04-01 $185,682 (-0.7%) $202,291 (-29.3%) 0.00 42
2019-05-01 $170,925 (-9.4%) $195,686 (-28.1%) 0.00 49
2019-06-01 $161,400 (-15.0%) $192,737 (-32.0%) 0.00 66
2019-07-01 $161,700 (-6.3%) $192,598 (-25.3%) 0.00 71
2019-08-01 $150,227 (-8.4%) $186,876 (-22.5%) 0.00 79
2019-09-01 $143,068 (-7.6%) $177,818 (-25.2%) 0.00 80
2019-10-01 $141,245 (-9.3%) $173,097 (-20.1%) 0.00 81
2019-11-01 $138,500 (-12.9%) $170,060 (-19.7%) 0.00 72
2019-12-01 $135,875 (-14.5%) $160,375 (-23.7%) 0.00 65
2020-01-01 $131,750 (-24.8%) $147,682 (-36.4%) 0.00 61
2020-02-01 $143,700 (-17.4%) $165,108 (-14.0%) 0.00 66
2020-03-01 $147,175 (-18.6%) $167,904 (-16.7%) 0.00 69
2020-04-01 $156,050 (-16.0%) $170,904 (-15.5%) 0.00 68
2020-05-01 $155,000 (-9.3%) $168,076 (-14.1%) 0.00 67
2020-06-01 $138,750 (-14.0%) $167,545 (-13.1%) 0.00 63
2020-07-01 $138,250 (-14.5%) $191,529 (-0.6%) 0.00 62
2020-08-01 $154,900 (3.1%) $192,154 (2.8%) 0.00 56
2020-09-01 $149,950 (4.8%) $183,806 (3.4%) 0.00 53
2020-10-01 $129,250 (-8.5%) $181,325 (4.8%) 0.00 47
2020-11-01 $127,375 (-8.0%) $173,262 (1.9%) 0.00 44
2020-12-01 $124,075 (-8.7%) $256,618 (60.0%) 0.00 36
2021-01-01 $119,900 (-9.0%) $274,177 (85.7%) 0.00 31
2021-02-01 $125,925 (-12.4%) $280,074 (69.6%) 0.00 32
2021-03-01 $165,625 (12.5%) $289,084 (72.2%) 0.00 36
2021-04-01 $192,000 (23.0%) $304,741 (78.3%) 0.00 39
2021-05-01 $187,000 (20.7%) $340,158 (102.4%) 0.00 42
2021-06-01 $223,250 (60.9%) $358,517 (114.0%) 0.00 42
2021-07-01 $199,900 (44.6%) $354,556 (85.1%) 0.00 51
2021-08-01 $199,650 (28.9%) $322,276 (67.7%) 0.00 60
2021-09-01 $208,475 (39.0%) $332,006 (80.6%) 0.00 49
2021-10-01 $165,000 (27.7%) $305,786 (68.6%) 0.00 41
2021-11-01 $167,225 (31.3%) $283,475 (63.6%) 0.00 37
2021-12-01 $157,350 (26.8%) $262,095 (2.1%) 0.00 32
2022-01-01 $138,400 (15.4%) $254,184 (-7.3%) 0.00 26
2022-02-01 $148,125 (17.6%) $259,657 (-7.3%) 0.00 29
2022-03-01 $187,450 (13.2%) $282,707 (-2.2%) 0.00 34
2022-04-01 $214,950 (12.0%) $296,663 (-2.7%) 0.00 43
2022-05-01 $218,750 (17.0%) $308,567 (-9.3%) 0.00 48
2022-06-01 $218,875 (-2.0%) $316,692 (-11.7%) 0.00 54
2022-07-01 $221,250 (10.7%) $326,857 (-7.8%) 0.00 53
2022-08-01 $233,500 (17.0%) $388,300 (20.5%) 0.00 47
2022-09-01 $227,500 (9.1%) $396,818 (19.5%) 0.00 46
2022-10-01 $250,000 (51.5%) $421,021 (37.7%) 0.00 37
2022-11-01 $259,675 (55.3%) $443,019 (56.3%) 0.00 38
2022-12-01 $359,900 (128.7%) $475,817 (81.5%) 0.00 33
2023-01-01 $304,900 (120.3%) $465,379 (83.1%) 0.00 31
2023-02-01 $324,999 (119.4%) $497,290 (91.5%) 0.00 32
2023-03-01 $304,900 (62.7%) $490,748 (73.6%) 0.00 32
2023-04-01 $299,000 (39.1%) $461,022 (55.4%) 0.00 35
2023-05-01 $302,700 (38.4%) $434,734 (40.9%) 0.00 59
2023-06-01 $295,600 (35.1%) $395,317 (24.8%) 0.00 80
2023-07-01 $279,900 (26.5%) $358,222 (9.6%) 0.00 103
2023-08-01 $273,675 (17.2%) $392,234 (1.0%) 0.00 64
2023-09-01 $289,950 (27.5%) $381,828 (-3.8%) 0.00 64
2023-10-01 $295,000 (18.0%) $374,315 (-11.1%) 0.00 50
2023-11-01 $295,000 (13.6%) $351,890 (-20.6%) 0.00 53
2023-12-01 $290,000 (-19.4%) $351,466 (-26.1%) 0.00 49
2024-01-01 $279,000 (-8.5%) $345,589 (-25.7%) 0.00 45
2024-02-01 $292,500 (-10.0%) $325,009 (-34.6%) 0.00 39
2024-03-01 $309,900 (1.6%) $341,325 (-30.5%) 0.00 38
2024-04-01 $310,725 (3.9%) $373,163 (-19.1%) 0.00 44
2024-05-01 $363,750 (20.2%) $394,407 (-9.3%) 0.00 51
2024-06-01 $340,000 (15.0%) $378,916 (-4.2%) 0.00 61
2024-07-01 $311,975 (11.5%) $362,479 (1.2%) 0.00 62
2024-08-01 $299,900 (9.6%) $383,395 (-2.3%) 0.00 70
2024-09-01 $299,000 (3.1%) $387,547 (1.5%) 0.00 69
2024-10-01 $314,250 (6.5%) $383,998 (2.6%) 0.00 70
2024-11-01 $324,950 (10.2%) $395,562 (12.4%) 0.00 62
2024-12-01 $364,000 (25.5%) $425,197 (21.0%) 0.00 52
2025-01-01 $344,950 (23.6%) $380,880 (10.2%) 0.00 49
2025-02-01 $370,250 (26.6%) $390,889 (20.3%) 0.00 43
2025-03-01 $309,450 (-0.2%) $472,272 (38.4%) 0.00 48
Mitchell's median listing price for 2025-03-01 was $309,450, a difference of $-450 (-0.2%) versus the prior year and $-60,800 versus the prior month.

Mitchell's median listing price comes in at 0% of the national average.

Mitchell's average listing price for 2025-03-01 was $472,272, a difference of $130,947 (38.4%) versus the prior year and $81,383 versus the prior month.

For the 2025-03-01 period, Mitchell had 48 MLS listings, a difference of 5 listings (12%) versus the prior month and 10 listings (26%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Mitchell (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,663 sqft
2018-02-01 0 days 1,751 sqft
2018-03-01 0 days 1,578 sqft
2018-04-01 0 days 1,665 sqft
2018-05-01 0 days 1,661 sqft
2018-06-01 0 days 1,749 sqft
2018-07-01 0 days 1,661 sqft
2018-08-01 0 days 1,686 sqft
2018-09-01 0 days 1,650 sqft
2018-10-01 0 days 1,633 sqft
2018-11-01 0 days 1,778 sqft
2018-12-01 0 days 1,778 sqft
2019-01-01 0 days 1,820 sqft
2019-02-01 0 days 1,812 sqft
2019-03-01 0 days 1,713 sqft
2019-04-01 0 days 1,730 sqft
2019-05-01 0 days 1,784 sqft
2019-06-01 0 days 1,888 sqft
2019-07-01 0 days 1,832 sqft
2019-08-01 0 days 1,692 sqft
2019-09-01 0 days 1,659 sqft
2019-10-01 0 days 1,631 sqft
2019-11-01 0 days 1,546 sqft
2019-12-01 0 days 1,454 sqft
2020-01-01 0 days 1,383 sqft
2020-02-01 0 days 1,596 sqft
2020-03-01 0 days 1,624 sqft
2020-04-01 0 days 1,651 sqft
2020-05-01 0 days 1,640 sqft
2020-06-01 0 days 1,587 sqft
2020-07-01 0 days 1,553 sqft
2020-08-01 0 days 1,773 sqft
2020-09-01 0 days 1,754 sqft
2020-10-01 0 days 1,720 sqft
2020-11-01 0 days 1,731 sqft
2020-12-01 0 days 1,720 sqft
2021-01-01 0 days 1,830 sqft
2021-02-01 0 days 1,773 sqft
2021-03-01 0 days 1,914 sqft
2021-04-01 0 days 1,981 sqft
2021-05-01 0 days 1,975 sqft
2021-06-01 0 days 1,860 sqft
2021-07-01 0 days 1,758 sqft
2021-08-01 0 days 1,872 sqft
2021-09-01 0 days 1,913 sqft
2021-10-01 0 days 1,821 sqft
2021-11-01 0 days 1,881 sqft
2021-12-01 0 days 1,673 sqft
2022-01-01 0 days 1,502 sqft
2022-02-01 0 days 1,509 sqft
2022-03-01 0 days 1,620 sqft
2022-04-01 0 days 1,750 sqft
2022-05-01 0 days 1,721 sqft
2022-06-01 0 days 1,683 sqft
2022-07-01 0 days 1,716 sqft
2022-08-01 0 days 1,765 sqft
2022-09-01 0 days 1,870 sqft
2022-10-01 0 days 1,890 sqft
2022-11-01 0 days 1,757 sqft
2022-12-01 0 days 1,803 sqft
2023-01-01 0 days 1,826 sqft
2023-02-01 0 days 1,890 sqft
2023-03-01 0 days 1,880 sqft
2023-04-01 0 days 1,901 sqft
2023-05-01 0 days 1,942 sqft
2023-06-01 0 days 1,896 sqft
2023-07-01 0 days 1,887 sqft
2023-08-01 0 days 2,020 sqft
2023-09-01 0 days 2,018 sqft
2023-10-01 0 days 1,978 sqft
2023-11-01 0 days 2,128 sqft
2023-12-01 0 days 2,256 sqft
2024-01-01 0 days 2,236 sqft
2024-02-01 0 days 1,891 sqft
2024-03-01 0 days 1,931 sqft
2024-04-01 0 days 2,118 sqft
2024-05-01 0 days 2,268 sqft
2024-06-01 0 days 2,242 sqft
2024-07-01 0 days 2,083 sqft
2024-08-01 0 days 2,208 sqft
2024-09-01 0 days 2,196 sqft
2024-10-01 0 days 2,300 sqft
2024-11-01 0 days 2,248 sqft
2024-12-01 0 days 2,242 sqft
2025-01-01 0 days 2,203 sqft
2025-02-01 0 days 2,099 sqft
2025-03-01 0 days 2,017 sqft
Mitchell's median listing age (time on market) for 2025-03-01 was 0 days.

Mitchell's median square footage for active listings during the 2025-03-01 period was 2,017 sqft. One year prior, the average listing was 1,931 sqft.

Mitchell, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 247 $60,055,000 $243,138
Refi 56 $20,500,000 $366,071
Home Improvement 40 $3,200,000 $80,000
Other 33 $1,855,000 $56,212
Cash Out Refi 27 $4,815,000 $178,333

Mitchell's most frequently cited loan purpose was Home Purchase, with 247 originations. The 2nd most popular reason was Refi, with 56 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 152 $41,420,000 $272,500
5-6% 76 $16,810,000 $221,184
Over 8% 68 $9,910,000 $145,735
7-8% 51 $16,535,000 $324,216
2.5-3% 4 $120,000 $30,000
4-5% 1 $105,000 $105,000
<2.5% 1 $15,000 $15,000

During 2024, Mitchell's most frequently originated rate bucket was 6-7%, with 152 originations.

Loan Sizing (Mitchell, SD MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 134 $35,450,000 $264,552
$100,000 or less 124 $6,700,000 $54,032
$100k-200k 109 $16,805,000 $154,174
$400k-600k 20 $9,410,000 $470,500
$600k-1000k 11 $7,855,000 $714,091
$Over $1MM 5 $14,205,000 $2,841,000

Mitchell's loan sizing saw the bucket of loans from $200k-400k with 134 originations, totaling $35,450,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 156 $38,200,000 $244,872
60-80% 90 $30,870,000 $343,000
20-40% 46 $7,610,000 $165,435
Under 20% 37 $1,775,000 $47,973
40-60% 19 $4,885,000 $257,105
Over 100% 2 $870,000 $435,000

Mitchell's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 156 originations, totaling $38,200,000 in origination value.